Today, in the dynamic world of Fatshimetry, a major announcement has shaken the foundations of the industry. At a press conference in Abuja, the representative of the Executive Chairman of FIRS, Dr. Zacch Adedeji, revealed a new revolutionary initiative that promises to transform the country’s energy landscape.
The announcement marks a major turning point in the energy sector, with the imminent commencement of loading of the first batch of PMS from the Dangote Refinery. From October 1, NNPC Ltd. will commence supplying about 385 kb/d of crude oil to the Dangote Refinery, all paid in naira. In return, the Dangote Refinery will supply PMS and diesel of equivalent value to the domestic market, also paid in naira.
This innovative collaboration is part of a bold vision to boost the national economy, reduce pressure on the naira and improve the supply of petroleum products in the local market. By opting for naira transactions, this initiative seeks to eliminate unnecessary transaction costs and streamline the entire process, thereby ensuring greater availability of petroleum products to consumers.
The Implementation Committee, headed by the Minister, will work closely with NNPC Ltd. and Dangote Refinery to implement this ambitious vision. An integrated approach will be adopted to coordinate regulatory, security and other stakeholders, thereby ensuring effective implementation of this revolutionary initiative.
In conclusion, this new era of collaboration between NNPC Ltd. and Dangote Refinery promises to redefine the standards of the national energy industry, paving the way for sustainable economic growth and increased monetary stability. This bold initiative, supported by the enlightened leadership of President Tinubu, is a decisive step towards a brighter energy future for Nigeria.